1Q 2023 Earnings Release
Apollo Global
Reports First Quarter
2023 Results
Apollo Reports First Quarter 2023 Results
Dividend
The declaration and payment of dividends on Common Stock, Series A Preferred shares and Series B Preferred shares are at the sole discretion of
Conference Call
Apollo will host a public audio webcast on
The webcast may be accessed at ir.apollo.com. For those unable to listen to the live broadcast, there will be a replay of the webcast available at the same link one hour after the event.
Apollo distributes its earnings releases via its website and email distribution lists. Those interested in receiving firm updates by email can sign up for them at ir.apollo.com.
"The consequences of the past decade- plus of artificially low interest rates were on full display in the first quarter. While the traditional banking model navigates certain challenges, the role of private markets in financing the broader economy becomes increasingly important. We've chosen a market that is differentiated within our industry - senior secured, safe yield at the top of the capital structure - that positions us well for the many evolving opportunities in this environment. We have tremendous runway in front of us and we're highly focused on executing the attractive growth plan we laid out at the beginning of the year."
Chief Executive Officer
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess retuat every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial retuneeds of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of
Forward-Looking Statements
In this press release, references to "Apollo," "we," "us," "our" and the "Company" refer collectively to
Investor and Media Relations Contacts |
For media inquiries please contact: |
For investors please contact: |
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Global Head of Investor Relations |
Global Head of Corporate Communications |
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212-822-0540 |
212-822-0491 |
Apollo Global
First Quarter 2023
Earnings
First Quarter 2023 Financial Highlights
- GAAP Net Income Attributable to
Apollo Global Management, Inc. Common Stockholders was$1,010 million for the quarter endedMarch 31, 2023 , or$1.67 per share - Apollo's primary non-GAAP earnings metric, Adjusted Net Income, which represents the sum of FRE, SRE, and PII, less
HoldCo interest and other financing costs and taxes, totaled$845 million , or$1.42 per share, for the first quarter
1Q'23 |
Per Share |
LTM 1Q'23 |
Per Share |
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GAAP Financial Measures ($ in millions, except per share amounts) |
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Net Income Attributable to |
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Segment and Non-GAAP Financial Measures ($ in millions, except per share amounts) |
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Fee Related Earnings ("FRE") |
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Spread Related Earnings ("SRE") |
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Fee and Spread Related Earnings |
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Principal Investing Income ("PII") |
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Adjusted Net Income ("ANI") |
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Assets Under Management ($ in billions) |
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Total Assets Under Management ("AUM") |
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Fee-Generating AUM ("FGAUM") |
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1Q'23 |
LTM 1Q'23 |
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Business Drivers ($ in billions) |
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Inflows |
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Gross Capital Deployment |
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Debt Origination |
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Note: 2022 amounts throughout this document have been retrospectively adjusted in accordance with the requirements of the adoption guidance of the accounting standard relating to Targeted Improvements to the Accounting for Long-Duration |
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Contracts ("LDTI"). This presentation contains non-GAAP financial information and defined terms which are described on pages 32 to 36. The non-GAAP financial information contained herein is reconciled to GAAP financial information on pages |
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27 to 31. Per share calculations are based on end of period Adjusted Net Income Shares Outstanding. LTM 1Q'23 per share amounts represent the sum of the last four quarters. See page 22 for the share reconciliation. "NM" as used throughout |
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this presentation indicates data has not been presented as it was deemed not meaningful, unless the context otherwise provides. |
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